Aave Labs团队成员:代币回购本身不创造价值,应被视为补充手段而非计划

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Odaily星球日报讯 Aave Labs 团队成员 Kolten 在 X 平台发文表示,加密项目或 DAO 应在拥有多余现金且认为资产价格低廉时进行回购。科技巨头苹果的策略是优先投资自身业务,仅在剩余现金充足且认为股票是最佳投资选择时才进行回购,核心在于业务竞争优势。这一原则适用于任何资产,价格的主要驱动力是采用率、市场主导地位和具有吸引力的叙事。回购可以释放信心信号并减少代币流通量,但其本身并不创造价值,应作为补充手段而非计划本身。对于代币而言,当市场新增供应量超过回购量时,回购效果将进一步减弱。许多加密公司过度关注加密原生买家,忽略了 95%的潜在投资者并不关注代币经济学。大多数买家从未听说过加密推特,他们更看重产品功能和易于理解的故事。此外,目前多数加密资产仍呈现同向交易特征,在项目能够吸引不依赖于整体加密市场的用户和资金之前,难以实现独立估值,回购也难以产生显著影响。

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